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Welcome to CycloneFanatic.com. I notice you haven't taken the time to register yet, now is as good of time as any:)

Short Term Investment

While I realize that I can only trust free investment advice as far as I can throw it, I used to have a pretty good arm back in the day, so I'm willing to take a chance on asking.

I've got some money that is just sitting in a savings account right now, and I just can't help but wonder if there is a way to get a better return on the money. Chances are that I'll need to use a couple thousand around august for moving expenses, but I would like to earn more than the 0.01% or whatever piddly rate the bank pays for savings. I've looked at CDs and money market accounts, so I know what some of those will get me for a return, but I was wondering if any of you had any other ideas for a short term investment that is, or will be, easy to take some money out of around august? Because with the rate paid by my bank for anything under $100,000 I might as well hide the money under my mattress, but unfortunately the FDIC won't insure my mattress. So, any suggestions?

Re: Short Term Investment

West Bank pays 3 or 4%(can't remember which) for checking that pays. 2 catches: must have two automated deposits into the account per month, plus 12 transactions out of the account per month using the bank provided atm/debit card. (must make charges as a credit to get to the 12 transactions)

Re: Short Term Investment

I loan some operating money to my brother who's a farmer. Am getting 4.5% which is pretty good in the current enviornment.

Dealing with family can be tricky. My family is pretty business minded and we'd rather take a loss than screw someone. That being said I have a contract he signs with everything spelled out and penalty clauses if not paid back.

I've been doing it for about 10 years and no problems. Have always gotten a better return than a CD pays and he's getting a better deal because it's less than what he can borrow for.

He's told me that he can get money mid season if I need the money for something else, but that hasn't happened yet.

Thats about as good an idea I can give you. You can try the stock market, but no gurantees there and you're rolling the dice.

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